Per reporter: Ren Fei Per editor: Ye Feng
From TMT to artificial intelligence and robotics, Nie Dongchen, partner of Genesis Partners, has turned to a number of investment tracks, and the biggest gain is that he understands the need to strengthen the rapid learning ability of individuals in cross-border investment and research, keep up with the trend of science and technology, the pulse of the times and the aspirations of the people, and make the investment efficient, practical and forward-looking. Nowadays, the robot track is like a spring breeze, continuing to promote the process of intelligent development of various industries, how to invest in good projects and empower them to accompany the run, Nie Dongchen gave the answer.
Nie Dongchen, partner of Genesis Partners, courtesy of the interviewee
We must constantly improve our ability to learn quickly
When he first entered the venture capital circle, Nie Dongchen caught up with the good time for the outbreak of the mobile Internet dividend, at that time, he did not have much investment and research skills, but he had already perceived the many changes that technology brought to people's lives, work, and learning, and his strong interest in new things made him have a keen sense of innovation at the beginning.
In 2017, he joined Genesis Partners as one of the start-up members, focusing on early-stage investments in mobile Internet, enterprise services, cultural consumption and other directions. He has focused on participating in the investment of Wanjia Onelink (listed on Hong Kong stocks), Huanyu Care, Chuanyi Jinke, Youpao Technology, Tiying, Nishi Culture and other enterprises. Investment research seems to be cross-border but has the same working ideas, he concluded that it is necessary to continuously improve its rapid learning ability.
In Nie Dongchen's view, making investment itself is a work that requires strong comprehensive ability, involving all aspects, so it is necessary to have a more systematic understanding of the market of different formats. "Only with the ability to learn quickly can we enter the game in advance when new industries and new models continue to emerge, and deepen our understanding of theory in practice, which is ultimately transformed into the logic of investment."
Therefore, cross-border is not an obstacle for him, stopping the pace of learning is the constraint to keep pace with the times, and knowing the development of multiple industries will not only help investors have a broader investment vision, but also escort the invested enterprises in the cross-cutting field. Even if the opportunity is occasionally missed, Nie Dongchen said that the industry's boom cycle will be staged in turn, and when the second round of the cycle comes, there is still a chance to get on the car.
Nowadays, the development of artificial intelligence technology is changing with each passing day, around the application of robots in different scenarios, all walks of life are advocating intelligent transformation, especially in many domestic manufacturing fields, many have broken through the industry bottleneck through digitalization, and towards a wider range of Internet of Things, Industry 4.0, capital to promote the development of the real economy to accelerate, Nie Dongchen said, the vast robot track is promising, investors still can not stop the pace of learning.
First of all, it is necessary to analyze the market prospect from the perspective of people in the industry, and at the same time, the minds of developers must see the trend of software and hardware technology development, in addition to the strong industrial collaboration ability of investors to help, in order to better help enterprises to carry out technological transformation.
Set up a "two-quadrant" to explore the value of cross-investment
Specific to investment practice, Nie Dongchen is good at combining industry and robot application scenarios, and studies the technological innovation opportunities and investment and development opportunities of cross-border integration in their respective fields, and has set up a dimension of "two quadrants" to explore the value of cross-investment.
Nie Dongchen explained that the so-called "two-quadrant" is actually to observe the industry and the product itself. "The first dimension is based on the characteristics of the robot or unmanned device itself, such as chips, core components such as reducer controllers, ontology, software algorithms, overall solutions, etc." From this dimension, the main structure of the robot is studied vertically.
Nie Dongchen said that the second dimension is to explore the landing opportunities of robot scenarios according to the actual needs of different industries, including industry, agriculture, households, service industries and medical care.
Among the invested companies of Genesis Partners, like Kuwa's driverless company, there is a clear understanding of the combination of technology and scenarios, and it is also the technology that China is running in front of the world; fast warehouse is our investment project, the completely intelligent, unmanned intelligent warehouse established for Cainiao in Wuxi is the largest robot deployment in Asia; the intelligent driverless forklift produced by Weiwei Robot can replace simple manpower work in logistics scenarios.
"Reducing the labor cost of enterprises by improving the degree of industrial 'intelligence' is the key to solving the current large number of industrial outflows, not only manufacturing, there are many application scenarios for robots, how to find the combination of technology and industry in the early stage, help and invest in related enterprises is what early investment institutions should do." Nie Dongchen said that in the back-end of the investment, it will also strengthen the efficient docking of resources to help enterprises develop better.
It is reported that genesis partners to the invested enterprises to give mergers and acquisitions support, to help the investment to explore the acquisition target of the expansion of the territory, Nie Dongchen to the team recently watched the industrial visual inspection as an example, "we found that many foreign giants in his late growth to rely on continuous acquisitions and mergers, the new technology and team and the scene into their own territory." ”
In this regard, he believes that investors have a natural advantage, that is, they can jump out of the investment industry and look at the development path of new technologies from a higher perspective, and guide the invested enterprises to associate with them. "This can help our portfolio companies to widen its moat, which is very important, in this process there are corresponding new technologies, new teams or new scenarios, if these invested companies can be included in their own business map, in fact, its growth rate and competitive advantage will be very obvious."
Rationally plan exit plans without pulling up seedlings to fuel growth
Founded in 2017, Genesis Partners is an early-stage investment institution focusing on the industrial Internet, cutting-edge technology and digital health. For institutional investors in early investment strategies, the time for equity withdrawal is often very long, and there are not many who can accompany them to the listing, and most of them choose to retreat in the previous financing process, and Nie Dongchen does not dare to agree with this.
"Exit must be something that all funds must consider, because we are the trustees of LP assets and want to help LP obtain reasonable returns, but at the same time, for Genesis Partners, we are a 'companion' fund, because our fund cycle is long, up to ten years or more, in this process, we are actually not eager to let the company at a certain point in time in order to exit and promote the growth of the investee company." Nie Dongchen said.
In his view, this is not good for the company, and he believes that long-term accompaniment to the enterprise and empowering development can allow the enterprise to find the right exit channel at a reasonable time. "Even if we don't go public in the short term, as long as the value of the company is very high, investors can make a lot of money in the form of dividends, which also leaves us with more opportunities to provide more room for entrepreneurs to develop."
At present, Genesis Partners manages more than 700 million US dollars of US dollar funds and 2.5 billion yuan of RMB funds, the core fundraising circle, both large overseas funds of funds, family offices, as well as local government guidance funds from China, Nie Dongchen said that the fundraising structure of Genesis Partners, do not accept individual LPs.
While creating robust management conditions for a companion fund such as Genesis Partners, large funds also help them attract more social capital to participate in it. Nie Dongchen said, "We don't want to do short-term arbitrage, so we hope to choose more mature LPs, and then there are some mature ways to make everyone live well in the ecology." ”
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